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It's US Presidential Election Day.......

It's US Presidential Election Day.......

Old Nov 7th 2012, 9:43 am
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Default Re: It's US Presidential Election Day.......

Originally Posted by Scamp
What is going to happen to me and my children?
Best case scenario your pension and savings will be gone. These will be expropriated either directly to plug the deficit once China vendor finance stops feeding the credit beast or via inflation. Worst case scenario there will be a world war.
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Old Nov 7th 2012, 9:45 am
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Default Re: It's US Presidential Election Day.......

Originally Posted by Desert Dubliner
Yeah. It would be like imposing contraception on religious organisation. No Democrat would ever do that. But you're right I havent't seen a lefty dictator since Mussolini and FDR.



Based exactly on what criteria??! The economomy is shit. The little progress made on employment was paid by the fastest government debt increase since WW2, add to that the FED balance which ballooned out of proportion. Between QE1, QE2, QE3 and new govt debt they spent close to 10 trillion USD. Foreign policy is in shambles, it is non-existing (unless we chose to confuse Ibama popular image abroad with foreign policy) and erratic. The Benghazi response and how this is being ignored by the press borders on trason.




No, it was actually Deng Xiao-Ping with his reforms that opened China to business thus creating the most significant seismic shift in the world economy since the Dutch invented shareholder capitalism. But let us not be too bothered with such insignificant detail.




What exactly is wrong with a political option seeking lower taxation and smaller state?

You can thank large states all over OECD countries for the relative decline everywhere. Very few developed countries with a state machinery consuming more than 35-40% of GDP managed growth higher than 2% for decades now. At the same time the government debt is ballooning out of control. According to Keynesians all this spending on behalf of future generations should have brought enormous progress. However, all I can see is feeble growth and rising deficit spending / debt. It appears all this deficit spending is managing is to prevent the collapse of OECD economies brought about through government misalocation, red tape and transfers.

This is a slow-moving train wreck but eventually this will end. Something that cannot go on forewer will stop. All this debt is going to have to be written off as there is no chance in hell it will ever be repaid. Your pensions and savings (cash or otherwise) will be wiped out in the process and possibly there will be wars as always happens when the states get into this kind of mess.

So the Tea Party guys want this madness to gradually stop and revert back to sound foundations without fiat currency wars and ballooning deficits. And then they are the mad ones..........

I told you on another topic, if I remember right (could have been someone else), you have no idea what you are talking about and hence no idea what is going to happen to you or your children (depending on how old you are and depending when Chinese stop providing vendor finance to the West).
your guy got a pasting, the tea baggers lost some of their most prominent twats, gay marriage passed in a few places, face it fox news lied to you and badly.

a little fact checking on most of your points would reveal to you that the repuptards have had a larger government than democrats every time they have been in power for decades, the tea baggers main concern is allowing the koch brothers to do what they want and fueling the religious rights hatred of all things, gay, female and black. the rich have never been richer so exactly how are things so ****ed up? oh thats right because bush much like bliar did such a number it will take decades to fix.

you were deluded before the election now your in denial its ok i can sympathise maybe you can now concentrate on ryan in 2016
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Old Nov 7th 2012, 9:47 am
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Old Nov 7th 2012, 9:52 am
  #49  
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Default Re: It's US Presidential Election Day.......

Originally Posted by Desert Dubliner
Best case scenario your pension and savings will be gone. These will be expropriated either directly to plug the deficit once China vendor finance stops feeding the credit beast or via inflation. Worst case scenario there will be a world war.
or both.

That said, we probably said the same about Japan 50 years ago. What you are forgetting though is the next set of poor Asian giants to have capitalisim shoved down their throat... vietnam, cambodia etc. They will hold down inflation... for a while.

I still think the Chinese change in government is more important than the US one.
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Old Nov 7th 2012, 9:52 am
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Originally Posted by Millhouse
Better still, there is the next tier of emerging markets coming to save us.
From where exactly? There is a billion of Chinese with proper education and work ethics, and history of success before they closed for business 200 odd years ago, that saved the west by giving us cheap goods while accepting usless paper held in their treasury in return. Where else in the world you see a billion of people with same history of success and work ethics? Africa? Latin America?

Mate, we are *****d.
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Old Nov 7th 2012, 9:55 am
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Default Re: It's US Presidential Election Day.......

Originally Posted by Desert Dubliner
From where exactly? There is a billion of Chinese with proper education and work ethics, and history of success before they closed for business 200 odd years ago, that saved the west by giving us cheap goods while accepting usless paper held in their treasury in return. Where else in the world you see a billion of people with same history of success and work ethics? Africa? Latin America?

Mate, we are *****d.
this is true... but so many issues to solve first. Remember, if growth slows they are also ****ed. To maintain growth they need to keep abusing their people and their new government is also ****ed.

we are all ****ed.
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Old Nov 7th 2012, 9:56 am
  #52  
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Default Re: It's US Presidential Election Day.......

Originally Posted by Desert Dubliner
From where exactly? There is a billion of Chinese with proper education and work ethics, and history of success before they closed for business 200 odd years ago, that saved the west by giving us cheap goods while accepting usless paper held in their treasury in return. Where else in the world you see a billion of people with same history of success and work ethics? Africa? Latin America?

Mate, we are *****d.
what exactly is a "billion of people"
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Old Nov 7th 2012, 9:57 am
  #53  
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Originally Posted by shiva
your guy got a pasting, the tea baggers lost some of their most prominent twats, gay marriage passed in a few places, face it fox news lied to you and badly.

a little fact checking on most of your points would reveal to you that the repuptards have had a larger government than democrats every time they have been in power for decades, the tea baggers main concern is allowing the koch brothers to do what they want and fueling the religious rights hatred of all things, gay, female and black. the rich have never been richer so exactly how are things so ****ed up? oh thats right because bush much like bliar did such a number it will take decades to fix.

you were deluded before the election now your in denial its ok i can sympathise maybe you can now concentrate on ryan in 2016
You're fighting the straw man.

Romney would have been lesser than two evils but I am pretty sure the path to destruction would have continued in the similar fashion.

Change of failing systems can come through tough choice or through collapse. I know enough about history to know that the latter seems to be the preferred option.

So keep up the good work.
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Old Nov 7th 2012, 10:00 am
  #54  
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I never understood why "growth" was King. We live in a closed system with finite resources, so growth cannot go on forever. One way or another, balance will be restored. IMO.
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Old Nov 7th 2012, 10:01 am
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Default Re: It's US Presidential Election Day.......

Originally Posted by Desert Dubliner
Best case scenario your pension and savings will be gone. These will be expropriated either directly to plug the deficit once China vendor finance stops feeding the credit beast or via inflation. Worst case scenario there will be a world war.
So what are you doing to protect your money and family? What do you suggest is a way to avoid the complete demise of the world?
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Old Nov 7th 2012, 10:02 am
  #56  
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Originally Posted by Scamp
So what are you doing to protect your money and family? What do you suggest is a way to avoid the complete demise of the world?
He has a lot of guns.... and knows how to use them.
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Old Nov 7th 2012, 10:05 am
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Originally Posted by Autonomy
He has a lot of guns.... and knows how to use them.
And a cave in Idaho full of canned food...
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Old Nov 7th 2012, 10:09 am
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Default Re: It's US Presidential Election Day.......

Originally Posted by Autonomy
He has a lot of guns.... and knows how to use them.


I'm just curious. Being of the younger generation I do sometimes wonder what to do with my money (when I get some), whether a pension is really worth starting or if in fact any institution is worth investing my hard earned beans in.

Always interested to hear what people think.
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Old Nov 7th 2012, 10:10 am
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Originally Posted by littlejimmy
I never understood why "growth" was King. We live in a closed system with finite resources, so growth cannot go on forever. One way or another, balance will be restored. IMO.
Growth comes through capital accumulation and technical progress. The resources are not finite as new resources are discovered in the process. The growth can continue unless it is hindered through capital misalocation which is what most governments do these days. The larger the share of the economic pie is taken the larger the misalocation of profits and the lesser the growth. In addition to misalocating the profits confiscated through taxation, the government also owns the money supply. By manipulating the cost of capital (which is exactly what QEs and screwing with bond prices does) the government creates bubbles. Thus we are limping from one misalocation (bubble) to the next one in the hope that this will be confused with real progress. Why is it important that the stock price go up? Why is the restoration of house price inflation called 'the housing recovery'?

One of the biggest lies today is that the financial crisis of 2008 and previous stock bubbles are failures of market capitalism.
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Old Nov 7th 2012, 10:13 am
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Originally Posted by Scamp
So what are you doing to protect your money and family? What do you suggest is a way to avoid the complete demise of the world?
Well I've been through a war so perill is not something new. And I do now how to use weapons, if that is of any help for an individual cought in a mess.

As for the wealth, there is nowhere to hide really. Except maybe keeping physical gold in a basement of a Swiss bank, which is too expensive and impractical for most. Forget about holding gold-backed funds. You do not own gold and will find that out the hard way once the house of cards comes down.
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